They can be used for speculation and hedging, for futures, equities or anywhere technical analysis is applied. Seasoned technicians will discover how joining Japanese candlesticks with other technical tools can create a powerful synergy of techniques; amateurs will find out how effective candlestick charts are as a stand-alone charting method. The comprehensive coverage includes everything from the basics, with hundreds of examples showing how candlestick charting techniques can be used in almost any market. Steve Nison is the foremost leader of the art of using candlestick charting as an analysis tool in studying market trends and making investment decisions.
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Goodreads helps you keep track of books you want to read. Want to Read saving…. Want to Read Currently Reading Read. Other editions. Enlarge cover. Error rating book. Refresh and try again. Open Preview See a Problem? Details if other :. Thanks for telling us about the problem. Return to Book Page. Here at last, the background and practical application of the unique and powerful Japanese charting techniques--known as candlestick charts--are fully explained for the first time.
These colorful and exciting techniques are hot on the lips of leading analysts and traders worldwide. Get A Copy. Hardcover , Second Edition , pages. More Details Original Title. Other Editions 9. Friend Reviews. To see what your friends thought of this book, please sign up. To ask other readers questions about Japanese Candlestick Charting Techniques , please sign up. Be the first to ask a question about Japanese Candlestick Charting Techniques. Lists with This Book.
Community Reviews. Showing Average rating 4. Rating details. More filters. Sort order. Nov 29, Duffy Pratt rated it really liked it Shelves: trading. Very clear description of the basic candlestick patterns. Many of the patterns rely on gaps between closing and opening prices. This type of trading applies to equities and to other markets that have pretty clear opening and closing times -- like the Japanese Rice market where this charting technique originated.
The Forex market, for all practical purposes, is free of such gaps. This difference means that many candlestick patterns have only limited application to the forex markets. Thus, while t Very clear description of the basic candlestick patterns. Thus, while there may be quite a bit to learn about candlesticks in a market filled with gaps, the material reduces to a manageable amount when you exclude any of the patterns that require a gap of some sort. Except for the weekend close, the opening and closing periods in forex are basically arbitrary.
They retain their force, I believe, because every broker uses the same break points, at least for any chart that tracks an hour or less. The weekly and monthly charts are also the same for all traders. There is some slight variation for Daily and four hour charts, depending on the broker's time zones, but these provide only slight variations for the most part.
Thus, candlestick charts work because traders all rely on the same data for the fictional opening and closing points of the bars of their charts.
But that fiction is enough to make a real difference, because it makes a difference in the expectations of traders, and makes a difference on when traders are likely to make their decisions. My main criticism is his selective examples. Anyone can pick out a chart and show how it illustrates their method. And I suppose that needs to be done. But if you look closely at Nison's examples, you will see many failed signals for patterns that had already been discussed, or that would be discussed later.
Nison is very good at showing where the patterns work. He also seems to be very good at ignoring the examples in his own charts where the patterns fail. Overall, I'm a fan of candlesticks. I don't think they tell a whole lot. But they are clearer than bar charts or line charts at showing what might have happened during a time period.
So, even if they don't provide much of an edge, for me they are still the clearest picture I can get. View 1 comment. Aug 12, Terry Kim rated it it was amazing. With candlestick charts there is a lot more information you can obtain about the market and the stock.
Candle charting alone has improved my general understanding of stocks and the market. It is a must read for anyone delving into the markets. Dec 31, Lukifryrr rated it really liked it Shelves: At first I thought this book was boring and, plainly, unhelpful. The idea of japanese candlestick has become standard in most trading softwares and their analysis almost as standard to traders. The first half of the book talks precisely about this, and it gets boring and repetitive very quick.
The second half of the book, however, starts to mix the candle analysis with western technical analysis and the entire picture become much clearer and efficient.
I have learned various tricks and have alrea At first I thought this book was boring and, plainly, unhelpful. I have learned various tricks and have already implemented them into my trading technique with great success. This book is very well worth the read for any trader. Oct 13, Nicholas S. Presented a method for technical analysis, based almost entirely on an appeal to the authority of Japanese rice traders from the 17th and 18th centuries, who we are told used these charting methods.
I lost interest when the author conceded that the signals are subjective I read this as: the method works; if it fails, you misinterpreted the method. Not very convincing to the skeptical reader. View 2 comments. Jan 31, Donald rated it it was amazing Shelves: investing.
Candlestick charting, combined with western technical analysis volume, RSI, moving averages can give the patient observer an edge in the markets. It is a more visual style of charting than standard bar charts, yet uses the same information of 'open-high-low-close'. Aug 24, Derek Peffer rated it liked it Shelves: market-analyst , economics , written-reviews-on-books.
This is your bible for candle stick charting, no question about it. For any technical analysts out there, there is no excuse to not have this read and finished.
Just buy it already, you'll be thankful you did after. Apr 28, Kalpit rated it it was amazing. The best book on the subject. Steve Nison is indeed the father of Candlesticks. Thank You so much Steve for writing this awesome book.
I can't emphasize, how much it helped me in making profits in the market. Nov 28, Michael Atkinson rated it did not like it. A worthless piece of crap. Don't be fooled. Nobody who really makes money in the market uses this stuff, and I know what I'm talking about.
Dec 06, Quang rated it really liked it. Most of the patterns and techniques here are still applicable, no matter how laughable that may sounds to you at first. With the abundant availability of public historical data at the present you can even test these techniques empirically I did and be amazed I was. May 06, MJ Jabarian rated it liked it. Markets are much more irrational than Lines and signs. Lines and signs are good tools to utilize your trading but don't think of them as they are your dictionary, think of them as human behaviors and forecast the possibilities.
Apr 12, Paul DeBusschere rated it it was amazing. Nison provides a clear guide to candlesticks and how to use them with Western technical analysis techniques. This book is a valuable tool that every trader should have in one's library. It is so straightforward, even someone like Burton G. Malkiel and other Random Walkers could use it to improve their results. View all 3 comments.
ISBN 13: 9780735201811
A form of technical analysis, Japanese candlestick charts are a versatile tool that can be fused with any other technical tool, and will help improve any technician's market analysis. They can be used for speculation and hedging, for futures, equities or anywhere technical analysis is applied. Seasoned technicians will discover how joining Japanese candlesticks with other technical tools can create a powerful synergy of techniques; amateurs will find out how effective candlestick charts are as a stand-alone charting method. In easy-to-understand language, this title delivers to the reader the author's years of study, research and practical experience in this increasingly popular and dynamic approach to market analysis. The comprehensive coverage includes everything from the basics, with hundreds of examples showing how candlestick charting techniques can be used in almost any market. This is clearly one of the best investment books ever written We strongly recommend this book, which has already become an investment classic.
Japanese Candlestick Charting Techniques